PHOENIX (AP) _ Western Alliance Bancorp (WAL) on Thursday reported third-quarter profit of $127.4 million.
The bank, based in Phoenix, said it had earnings of $1.24 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share.
The bank holding company posted revenue of $335 million in the period. Its revenue net of interest expense was $285.9 million, also topping Street forecasts. Six analysts surveyed by Zacks expected $276.7 million.
Western Alliance shares have climbed 17% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $46.24, a decrease of 15% in the last 12 months.